THE INDEPENDENT · 2026-11-10 11:24 UTC

North Korea is making Elon Musk memecoins to launder $6.3bn stolen from Binance

North Korea-linked hacking group TraderTraitor allegedly stole $6.3 billion in bitcoin, ethereum and other digital assets from Binance last month. Blockchain firm Elliptic says the group is minting obscure memecoins, such as an 'Elon 2028 President' token, to launder the funds, with about $430,000 passed through them so far. The FBI says the stolen assets are being converted into Ethereum to disguise their origin before further laundering.

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